Industry: Structural Components
Facility Limit: $150,000
This timber building components business had been self-funded with a secured bank overdraft. The business owners leveraged long-standing relationships with overseas suppliers to draw out payment for goods so that they could offer customers standard 30-day credit terms. Whilst this eased strain on cashflow it required constant monitoring and negotiation.
After sourcing a new range of windows, doors and components from China, it became apparent that new suppliers would require payment upfront. Their existing lender was not willing to provide any extra credit without an increase in equity, which the business could not provide.
The business' accountant, having recently referred another client to Tradeline in June (and received great feedback), made the introduction. We were able to provide a facility to cover pending supplier orders and enable the business to grow, without requiring property security.
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